Campbell says he’s not in a financial position to run for the GOP nomination for governor against Meg Whitman and Steve Poizner.

They’ve both invested millions of dollars of their own money in their campaigns.

Campbell believes he’s better suited to run for U-S Senate.

In this announcement on his campaign website, Campbell says if elected senator, he’d work to control federal spending...

Campbell: “Now when our national debt has skyrocketed to more than 12-trillion dollars, that’s more than 40-thousand dollars for every man, woman and child in the United States...I strongly considered where I could serve. Today, I’m announcing my candidacy for the United States Senate to represent California...”

Campbell describes himself as a “fiscal conservative” but says he has more liberal views on gay rights, abortion and guns.

There are two other republicans running in the senate race.

They are state Assemblymember Chuck Devore and former Hewlett Packard Chief Executive Carly Fiorina.